December 5, 2017

ABOUT THE BULGARIAN COMPANY

GENERAL INFORMATION

Method of Incorporation/registration:
The Articles of Association and the Incorporation Protocol must be signed by the shareholder(s). The minimum number of directors is one. The director must be a natural person of any nationality.

 

Source of Corporate Legislation:
Commercial Law of the Republic of Bulgaria – in force since 1991

 

Company Legal Form:
Limited company by shares with sole or multiple owners

 

Company Status:
Private local limited company

 

Corporate Documents and Language of Legislation:
For non-EU countries Apostille certification is necessary; Bulgarian.

 

Time required for Incorporation:
1-2 weeks following the provision of all the necessary documents and information

 

COMPANY’S NAME AND ACTIVITIY

Company’s Name:
A company may be registered with a name in Bulgarian which does not already exist. The Registry allows for companies to register the English version of the name officially.

 

Possible Endings:
EOOD (Sole Owner Limited Liability Company) or OOD (Limited Liability Company with several owners)

 

Restricted Names:
Any names related to licensed activities (Bank, Insurance, Tourist etc.)

 

Company’s activities:
Anything not explicitly forbidden by law, such as money laundering,smuggling operations, etc.

 

DIRECTORS, SHAREHOLDERS, MEETINGS

Number of Directors:
Minimum 1, only natural persons. Joint and single signature rights allowed by Law.

 

Local Directors Required:
No.

 

Corporate Directors:
Corporate Directors are not allowed.

 

Number of Shareholders:
Minimum 1, maximum – no limits.

 

Corporate Shareholders:
Corporate Shareholders are allowed.

 

Annual Meeting:
The company must hold a general meeting at least once per year (in order to approve the Annual Financial Report).

 

Locality of the Meeting:
Unrestricted

 

CAPITALIZATION AND SHARES

Capitalization:
Minimum 1 Lev per share, and minimum of 2 Leva per company. There is no maximum restriction on the amount of the share capital.

 

Paid Up Capital:
The full capital must be paid up into a special bank account, irrespective of the amount, and can be withdrawn after registration. The account may be transformed into a current account. The minimum
requirement for paid up capital is 2 leva.

 

Bearer Shares:
Bearer shares are not allowed.

 

Registered Shares:
When transferring shares, the registration of the transaction is required by law.